McDermott Secures Over $2 Billion in Contracts With North Oil Company and Prepares to Expand Operations in Qatar's Largest Oil Field

McDermott Secures Over $2 Billion in Contracts With North Oil Company and Prepares to Expand Operations in Qatar’s Largest Oil Field

Written by Ruth Rodrigues

Published on 06/02/2024 at 08:47

Foto: MAERSK

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The Multinational McDermott Signed Two New Contracts with North Oil Company, Qatar’s Oil Company, to Expand the Al-Shaheen Oil Field, the Largest in the Country. The Contracts, Totaling Over US$ 2 Billion, Involve the Installation of Platforms and a Central Processing Platform.

McDermott has signed two new contracts valued at over US$ 2 billion with Qatar’s North Oil Company (NOC) to expand operations in the country’s largest oil field, Al-Shaheen. The agreements involve packages 11 and 13 of the Ruya Development Project, including the installation of satellite platforms and a central processing platform. The partnership reinforces McDermott’s presence in the oil industry and solidifies its position in the Middle East.

North Oil Company Secures Two New Contracts for McDermott in Qatar

McDermott has secured new contracts with Qatar’s North Oil Company (NOC), which promise to expand operations in the country’s largest oil field, Al-Shaheen.

The contracts, totaling over US$ 2 billion, highlight McDermott’s expertise in providing services for the global oil industry.

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The agreements with Qatar’s oil company involve the execution of the Ruya Development Project, focusing on packages 11 and 13.

Al-Shaheen is known as Qatar’s largest oil field, and these agreements strengthen McDermott’s presence in the region.

Package 11, awarded to the McDermott and Qingdao McDermott Wuchuan (QMW) consortium, involves the installation of nine satellite wellhead platforms and jackets in two offshore campaigns. The agreement value is over US$ 1.5 billion.

In package 13, McDermott, along with Hyundai Heavy Industry (HHI), takes on engineering, procurement, construction, installation, and commissioning activities for a 25,000 metric ton central processing platform, as well as a flare platform and bridges.

Although the exact contract value has not been disclosed, it is reported to be between US$ 500 and US$ 750 million.

Companies Strengthen Partnership with New Contracts

The new contracts between McDermott and North Oil Company in Qatar reinforce the companies’ partnership in the oil sector.

Neil Gunnion, National Manager and Vice President of Operations at McDermott in Qatar, emphasizes the partnership with the company since the pre-FEED in 2021.

According to him, the team of specialists is ready to lead the EPCIC work execution, ensuring the expansion of the Al-Shaheen oil field.

Mike Sutherland, Senior Vice President Offshore at McDermott in the Middle East, highlights that these contracts are results of the execution of the front-end engineering design (FEED) project, one of the largest in McDermott’s over 100-year history.

The companies are now preparing for operations in Qatar’s largest oil field.

Source: Petronotícias

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McDermott Secures Over $2 Billion in Contracts With North Oil Company and Prepares to Expand Operations in Qatar’s Largest Oil Field

The Multinational McDermott Signed Two New Contracts with North Oil Company, Qatar’s Oil Company, to Expand the Al-Shaheen Oil Field, the Largest in the Country. The Contracts, Totaling Over US$ 2 Billion, Involve the Installation of Platforms and a Central Processing Platform.

North Oil Company Secures Two New Contracts for McDermott in Qatar

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McDermott Secures Over $2 Billion in Contracts With North Oil Company and Prepares to Expand Operations in Qatar’s Largest Oil Field

The Multinational McDermott Signed Two New Contracts with North Oil Company, Qatar’s Oil Company, to Expand the Al-Shaheen Oil Field, the Largest in the Country. The Contracts, Totaling Over US$ 2 Billion, Involve the Installation of Platforms and a Central Processing Platform.

North Oil Company Secures Two New Contracts for McDermott in Qatar

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Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state wants to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

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